#5020BlackWallStreetChallenge

 

 

As of Sept. 8 http://ALSA.org received $110.5 million in Ice Bucket Challenge donations! The disease may not be race specific, but the proportion of dark skinned Americans fighting the disease is fractional compared to others.

These days, I listen to more talk radio through my speakers in my car. I choose to fill my downtime while driving with educational programming. One of my favorite producers to listen is Michael Imhotep, President of the African History Network Show. His show is full of verifiable facts about the history of African Americans. He is on a mission to empower those of African descent using knowledge.

Recently on this show, Mr. Imhotep, advertised a new challenge he is calling the “50 20 Black Wall Street Challenge” and has created the hash tag #5020blackwallstreetchallenge. So what is the challenge all about?

Dark skinned Americans face more pressing issues per capita, like economic inequality, that need immediate and urgent attention.

The purpose of the challenge is to promote Black on Black business. Mr. Imhotep’s research shows that African Americans are the least likely to circulate money in our own neighborhoods. The problem with this approach is the more dark skinned Americans spend their money with people not of their same descent, their neighborhoods become run down as the money never circulates and doesn’t create jobs and other benefits that those who do business with their own ethnicities receive.

EVERY ETHNIC GROUP IS THE LARGEST EMPLOYER OF THEIR OWN ETHNIC GROUP EXCEPT AFRICAN AMERICANS. Each dollar spent within the following groups circulate multiple times:

  • Jews  -- 17-18 times
  • Asian -- 12-13 times
  •  Hispanics - 6-7 times
  •  African Americans – barely once

How does the challenge work?

  1.  Find a Black owned business to support.
  2.  Spend $20 with a Black owned business for four consecutive weeks and post videos of the receipts.
  3. Each week, challenge 50 people to do the same at a business of their choice.

 

50 people x $20 = $1,000 x 4 weeks x 12 months = $96,000 a year for the business, therefore creating more opportunities for jobs in our own communities.


Spurgeon Thomas

Urbanity Life, LLC, San Diego, CA

@Colorofspurge

I am a #writer#businesssystemsanalyst, and #projectmanager, specializing in community improvement and creative project management. @urbanitylifesd